President Bola Tinubu’s decision to suspend taxes and duties on imported food has sparked criticism, with experts questioning its ability to reduce inflation. Dolapo Bright, a former Special Adviser on agriculture to ex-President Muhammadu Buhari, believes this policy will not solve Nigeria’s rising food costs.
Since Tinubu assumed office in May 2023, inflation has soared from 22.41% to 34.6% by November 2024, according to the National Bureau of Statistics (NBS). Food prices have been hit the hardest, with inflation in this sector climbing to 39.93%. Staples like rice, fish, yam flour, and chicken have become significantly more expensive.
In an attempt to ease the burden, the Tinubu administration announced in July 2024 the suspension of customs duties on food imports. However, bureaucratic delays have prevented the policy from being implemented.
Dolapo Bright argues that suspending import duties is a short-term solution that fails to address the root causes of food inflation. Speaking on Inside Sources, Bright explained that high transportation costs, driven by expensive diesel and petrol, are keeping food prices high.
He criticized the policy, saying:
“The person advising the government is clueless. Imported food still has to be transported across the country, and with current costs, it won’t make much difference. This approach only hinders local agricultural development.”
Bright emphasized that the government should step back and allow the private sector to lead in agriculture. He noted that many farmers are struggling to produce as they once did due to high input costs, which have limited their capacity.
While President Tinubu promised 2,000 tractors for mechanized farming, Bright said this is not enough. Instead, he advocated for supporting small-scale farmers, who make up over 80% of Nigeria’s agricultural workforce. Using local labor for farming would not only increase food production but also create jobs for Nigerians.
According to Bright, creating an environment where farmers can make decent profits will reduce their reliance on government intervention and stimulate growth in the sector.
